Credit Suisse Group (CS, CSGN.VX) and Dow Jones Indexes signed
an agreement on hedge-fund indexes that will create the Dow Jones
Credit Suisse Hedge Fund Indexes.
Financial terms weren't disclosed.
The indexes, formerly known as the Credit Suisse/Tremont Hedge
Fund Indexes, will be calculated, marketed and distributed by Dow
Jones Indexes. Credit Suisse affiliates will continue to manage the
financial products linked to the indexes. The companies plan to
keep methodologies and rules for each of the existing indexes
"consistent with past practices."
The family of 17 indexes include broad-market and investable
indexes that are designed to track hedge-fund performance.
Dow Jones Indexes will discontinue its existing hedge-fund
indexes on June 30, and Credit Suisse said its joint venture with
Tremont Capital Management Inc. "has been dissolved."
A 90% stake in Dow Jones Indexes was sold by Dow
Jones--publisher of this newswire--to CME Group Inc. (CME) earlier
this year, valuing Indexes at $675 million.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com